A Response to Guerrien and Benicourt

  title={A Response to Guerrien and Benicourt},
  author={Karl E. Case},
  journal={Review of Radical Political Economics},
  pages={331 - 335}
  • K. Case
  • Published 1 September 2008
  • Economics
  • Review of Radical Political Economics
This response is a defense of neoclassical economics. Neoclassical economics contains more than the perfectly competitive model: much of it concerns the problems of market failure including public goods, externalities, imperfect structure, and asymmetric information. The article acknowledges that economic models are abstract, but argues that abstraction can be useful, and that full-blown utility theory is not required to gain insights from the concepts. Neoclassical economics helps us… 

Figures from this paper


Irrational Behavior and Economic Theory
  • G. Becker
  • Psychology, Economics
    Journal of Political Economy
  • 1962
ALTHOUGH it has long been agreed that traditional economic theory "assumes" rational behavior, at one time there was considerable disagreement over the meaning of the word "rational." To many, the
Principles of Economics
ECONOMICS admit of being reduced to principles more than other sciences dealing with human actions, for the reason which Prof. Marshall has thus expressed: “Wide as are the interests of which the
The Failure of Armchair Economics
'?f* This month you and a group of co-authors are bringing out a new book, Scientific Discovery. You call it a report on scientific work in progress. To what is your research ultimately leading? A.
Foundations of Economic Analysis.
Recent statistical techniques, including nonlinear programming, have been added to a basic survey of equilibrium systems, comparative statistics, consumer behavior theory, and cost and production
The Pure Theory of Public Expanditure
Классическая работа лаурета Нобелевской премии по экономике Пола Самуэльсона, заложившая основу современной теории общественных благ. В статье формулируются условия выбора оптимального объема
The Theory of Public Finance
Principles of economics. 8 th ed. Old Tappan, NJ: Pearson Education. Challenge. 1986. The failure of armchair economics. Interview with Herbert Simon
    He is author or coauthor of five books including Principles of Economics, Economics and Tax Policy, and Property Taxation: The Need for Reform. For the last twenty-five years
      Principles of economics. London: Macmillan and Co., Ltd